Bradesco executives seem to be in consensus about the . The subject dominated the conversation at the bank’s luncheon with the press. Groups of journalists surrounded the different directors and advisors of the financial institution and heard a very similar speech: “the problem was having announced the income tax exemption along with the tax measures”, said one of them.
Former CEO of Bradesco and current president of the bank’s board of directors, Luiz Carlos Trabuco was not intimidated when the recorders were turned on – he said that the fiscal adjustment package “was not shy” either. He even highlighted some points that he considered positive in the set of measures, such as limiting the growth of the minimum wage to 2.5% above inflation and the proposal to increase the scrutiny on the Continuous Payment Benefit (BPC), which is paid to elderly people. and low-income people with disabilities.
Trabuco agrees that the market would react differently if the fiscal adjustment were announced without the additions to the income tax reform. But it does not invalidate Faria Lima’s position, explaining that the overshooting – sharp market movement – is also a message.
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“You exaggerate a little to give a warning signal,” Trabuco said. “In the real world, perhaps the Selic doesn’t need to be so high,” he stated – in the futures market, the interest rate curve reached 14%. THE chairman do Bradesco believes that the government understood the message and sees the flexibility of the Ministry of Finance as positive in pointing out the possibility of additional measures.
